On the day General Electric announced a CEO change, the industrial giant also received regulatory approval for its merger with Baker Hughes.Long-time followers of GE may remember "Ecoimagination".
General Electric (GE) announced today that CEO Jeff Immelt would retire in August, giving its shares a 3%+ boost. That news also appears to have overshadowed another piece of news: General Electric received regulatory approval to merge with Baker Hughes (BHI), a merger announced in October.
RBC's Kurt Halleadoffers his take:
Today, Bloomberg is reporting US antitrust authorities granted approval for BHI and GE Oil & Gas to combine as a new public company...MORE
It was all B.S., just rent-seeking gussied up in verde:
"GE's Immelt wishes he had soft-pedaled green talk" (GE)
